Donald Trump Conviction Could Hurt His Company’s Operations

Posted on: June 10, 2024, 11:19h. 

Last updated on: June 10, 2024, 11:27h.

In late May, former President Donald Trump was found guilty on 34 counts levied against him by prosecutors in New York. If the verdict is upheld on appeal, Trump will be the first president in the history of the United States to be a convicted felon.

Donald Trump hotel resort liquor license
The Trump International Hotel stands tall above the Las Vegas Strip in a 2020 photograph. Donald Trump was convicted on 34 felony counts last month, but the outcome presumably won’t impact his business in Southern Nevada. (Image: The New York Times)

Trump’s 2024 presidential campaign has seen a rush of donations in the jury outcome aftermath, a case his supporters believe was a political witch hunt and an effort by his political opponents to shame his White House run. The case could also disrupt the billionaire’s business operations.

Through his conglomerate, The Trump Organization, the business tycoon possesses liquor licenses in at least nine states. Several of those states require liquor license holders to have certain moral qualities, with some requiring that booze distributors not have any prior felony convictions.

The New Jersey Division of Alcoholic Beverages is reportedly investigating whether Trump can continue to maintain his liquor licenses in the Garden State. The Trump Organization has liquor licenses to provide alcohol at the firm’s golf courses in Bedminster, Colts Neck, and Pine Hill.  

Trump’s company also holds liquor licenses in Florida, New York, Illinois, Nevada, Virginia, North Carolina, California, Hawaii, and Washington, DC. 

Las Vegas Impact

Donald Trump hasn’t owned a casino in many years, though many wrongly think the towering gold building with his name on it standing above the Las Vegas Strip is a gaming resort.

The Trump International Hotel & Tower is instead a 64-story residential high-rise hotel. Billed as an “ultra-luxury hotel” with 1,232 condominium suites, the property additionally has 50 “exclusive penthouse suites.” White-gloved doormen and 24-hour concierge service are among the many amenities.

Trump International is jointly owned by The Trump Organization with Trump’s longtime friend, billionaire Phil Ruffin.

Clark County requires liquor licensees to be “of good moral character” but says nothing about felony convictions disqualifying a person from being behind a liquor license. That means the odds are good that alcohol will continue to pour at the resort’s two restaurants, DJT Restaurant & Bar and H2(EAU).

Trump has never owned a casino in Las Vegas or Nevada. He previously owned several commercial casinos in Atlantic City and Indiana, and held an ownership stake in a tribal casino in California’s Coachella.

2024 Odds

Despite his legal loss, Trump remains the betting front-runner for the November 2024 presidential election.

Bookmakers in the UK, where political betting is allowed, have Trump around -140 to oust President Joe Biden from the Oval Office. The line implies an outcome of about 58%. Biden is at +140, or an implied likelihood of 42%.

Trump’s war chest is ballooning after the conviction. His campaign reported taking in $35 million the day following the May 30 verdict. The Republican also recently landed the financial backing of billionaires Stephen Schwarzman and Dr. Miriam Adelson.

Adelson is the widow of Sheldon Adelson and remains the largest shareholder of the Las Vegas Sands casino empire. Schwarzman’s Blackstone owns the Bellagio, The Cosmopolitan, Aria, and Vdara on the Las Vegas Strip.

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